Canara Bank to add branch in Britain

Canara is the sixth Indian lender to set up a branch in Leicester.

Leicester has a large population of Indian origin and has close business links with India. The city will be Canara Bank's first branch outside London.

Local business leaders have welcomed the bank's decision to open a branch in Leicester in March, which will involve the generation of 11 jobs.

According to a report in the Economic Times, the town already has branches of Punjab National Bank, ICICI, Bank of India, Bank of Baroda and the State Bank of India.

Local economic development agency Prospect Leicestershire has worked with East Midlands Development Agency (Emda) and the East Midlands India Business Bureau to identify a suitable location for Canara Bank.